The Federal Reserve has announced two enforcement actions against Deutsche Bank that requires the bank to pay a combined $156.6 million in civil money penalties.
- Deutsche Bank Is First Bank Busted for Breaking Volcker Rule – Bloomberg
- Fed Fines Deutsche Bank $156.6 Million for Forex Violations – Reuters
The euro inched higher in early European trade but remained almost a cent off this week’s highs as investors battened down the hatches for results of the first round of a tightly-fought French presidential election.
It may not be cafe au lait, but traders are likely to need plenty of coffee to sustain them through the first round of the French election.
The dollar pared losses on renewed hopes that the White House may be able to push through fiscal policies.
Sterling was flat against the dollar ahead of UK data expected to show a continued slowing in consumer spending in the lead-up to Britain’s European Union exit talks.
Investors are asking whether snap election surge marks the start of a sustained recovery.
Japanese Finance Minister Taro Aso said he didn’t see a problem with US President Donald Trump’s recent comments about the dollar “getting too strong,” as his Treasury secretary later clarified that the president was not seeking to talk the currency down.
Mexico’s peso gained after the country’s central bank chief hinted at further interest rate hikes and the country’s finance minister said he saw room for further gains in the currency.
Peru’s central bank eliminated an additional reserve requirement for foreign exchange derivative operations that had been applied for two years when transactions exceeded a daily allowance.
Investors are bidding up prices for gold, Japanese yen and other haven assets, seeking cover from political and economic risks that are spreading across the globe.
Members of the single currency are forced to issue obligations in a currency none of them can print.
President Donald Trump is expected to sign multiple “financial related” executive actions at the Treasury on Friday, sources told CNBC.
US Treasury secretary wants revamp of prop trading ban; not repeal.
European Commission’s Dombrovskis and BOE’s Carney say international agreements reached since the financial crisis shouldn’t be undermined.
Utah investor Randal Quarles is a veteran of both Bush administrations and no Fed stalker.
Nex Group has received regulatory approval from the Commodity Futures Trading Commission (CFTC) for a new Swap Execution Facility, Nex SEF (Nex SEF).
Jefferies is building out its CEEMEA trading operations and eventually plans to add primary markets, derivatives and local currency trading to a revitalised business.
LMAX Exchange ‘pauses’ bid for Irish regulatory approval over Brexit uncertainty.
TriOptima has included client cleared trades in a triReduce Mexican peso compression cycle in CME Clearing for the first time.
Asian currencies were modestly higher with trading characterised by caution ahead of the first round of the French Presidential election this weekend.
Russian 10-year bond yields fell to three-year lows on expectations of a rate cut, although the rouble along with most other emerging assets was flat to weaker as the dollar and US yields held off recent lows.
Central European currencies hovered near multi-week lows due to fears that an anti-EU candidate may win the first round of France’s presidential election on Sunday.